Analyst Consensus ?
ConsensusBuy46 ratings
Bullish4087.0%
Neutral613.0%
Bearish00.0%
Live Nation Entertainment, Inc. · LYV · FY2025 Q4 · Calendar Q1 2026
Live Nation rallies on strong concerts, DOJ win; guides to double-digit 2026 AOI growth
Live Nation's business rests on structurally resilient global demand for live concerts, now reinforced by an expanding owned-venue portfolio and a more favorable regulatory backdrop. Management reaffirmed its outlook for double-digit adjusted operating income growth in 2026, citing robust concert demand, sponsorship expansion and a 9% rise in concert ticket sales behind a 6% ticketing GTV gain. The partial DOJ summary judgment dismissing key monopoly claims materially reduced breakup risk in management's telling, while FTC-driven limits cut broker listings on Ticketmaster roughly in half. The offsetting pressure is near-term: Venue Nation's build-out carries $25M-$50M of pre-opening costs this year, and the company is taking on capex and capital intensity as it converts from a promotions-led model toward owning more of its venue base. The stock trades at $168.90 against a $208.18…
Reported After market closeNYSECommunication Services
$39.81B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$-1.06
Consensus $-1.02
EPS surprise
-3.9%
Reported versus consensus
Reported revenue
$6.31B
Consensus $6.10B
Revenue surprise
+3.4%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+3.3%
Event window
SPY move
+0.7%
Same window
Abnormal move
+2.6%
Stock minus SPY
Volume
2.5×
Versus trailing sessions
Subsequent drift
-8.5%
Up to 20 sessions
LYVSPY benchmark
Ask FN2 about LYV FY2025 Q4
Transcript, numbers and history already loaded
Why did LYV rise 3.3% after missing EPS estimates in FY2025 Q4?What changed in LYV's guidance and outlook in FY2025 Q4?Give me the bull and bear case for LYV after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The two headline developments were regulatory rather than numeric. The DOJ partially granted summary judgment, dismissing monopoly claims on promotion/booking and the national consumer market, which management framed as lowering the risk of a forced breakup. Separately, FTC-imposed broker restrictions cut broker-listed tickets on Ticketmaster roughly in half, reshaping secondary-market dynamics. Financially, fiscal Q4 revenue of $6.31B beat the ~$6.10B consensus (+3.4%), while EPS of -$1.06 was slightly below the -$1.02 estimate. Management held guidance steady at double-digit AOI growth for 2026 and flagged Venue Nation pre-opening costs of $50M this year.
Guidance delta
maintained
Key takeaways
- Fiscal Q4 revenue of $6.31B beat the ~$6.10B estimate (+3.4%), though EPS of -$1.06 came in slightly below the -$1.02 estimate.
- Ticketing GTV rose 6% year over year, powered by a 9% gain in concert ticket sales.
- The DOJ partially granted summary judgment, dismissing monopoly claims on promotion/booking and the national consumer market, lowering breakup risk.
- FTC-imposed restrictions roughly halved broker-listed tickets on Ticketmaster, reshaping the secondary market.
- Management reaffirmed double-digit AOI growth for 2026, with Venue Nation pre-opening costs of $50M this year and a path to steady-state profitability later.
Management priorities
- Expand owned and operated venues through Venue Nation, including acquisitions such as ForumNet in Italy and arena deals across Europe.
- Roll out face-value exchange and identity-verification tools alongside anti-bot and fraud-prevention technology for artists and fans.
- Grow sponsorship and ancillary revenue across events and venues.
- Advance international ticketing in Europe, Latin America and Asia Pacific, and deepen distribution partnerships with Spotify, Facebook and Verizon.
- Manage Venue Nation through its ramp-up to steady-state profitability after the $25M-$50M pre-opening cost phase.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$169.4Current
$82Low
$174.94Average
$222High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Citigroup | Buy | Buy | Maintain | Aug 3, 2026 |
| Susquehanna | Neutral | Neutral | Maintain | Jul 31, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Jul 31, 2026 |
| Guggenheim | Buy | Buy | Maintain | Jul 31, 2026 |
| BTIG | Buy | Buy | Maintain | Jul 31, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Jul 31, 2026 |
| Benchmark | Buy | Buy | Maintain | Jul 31, 2026 |
| Citizens | Market Outperform | Market Outperform | Maintain | Jul 22, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 21, 2026 |
| UBS | Buy | Buy | Maintain | Jul 20, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Jul 9, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Jul 9, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jun 10, 2026 |
| Rothschild & Co | Buy | Neutral | Upgrade | Feb 27, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Feb 20, 2026 |
| B of A Securities | Buy | Buy | Maintain | Feb 20, 2026 |
| Jefferies | Hold | Buy | Downgrade | Jan 13, 2026 |
| Roth Capital | Buy | Buy | Maintain | Nov 5, 2025 |
| Deutsche Bank | Buy | Buy | Maintain | Oct 23, 2025 |
| Seaport Global | Buy | Buy | Maintain | Sep 23, 2025 |
| Wolfe Research | Outperform | Outperform | Maintain | Jun 10, 2025 |
| Roth MKM | Buy | Buy | Maintain | May 2, 2025 |
| Rosenblatt | Buy | Buy | Maintain | May 2, 2025 |
| Macquarie | Outperform | Outperform | Maintain | Mar 6, 2025 |
| TD Cowen | Buy | Buy | Maintain | Nov 12, 2024 |
| Redburn Atlantic | Buy | Neutral | Upgrade | May 9, 2024 |
| Northcoast Research | Buy | Neutral | Upgrade | Mar 20, 2023 |
| Redburn Partners | Neutral | Neutral | Maintain | Nov 22, 2022 |
| Cowen & Co. | Outperform | Outperform | Maintain | Nov 2, 2021 |
| Gabelli & Co. | Buy | Buy | Maintain | Apr 14, 2020 |
| G.research | Buy | Buy | Maintain | Apr 14, 2020 |
| CFRA | Buy | Hold | Upgrade | Feb 28, 2020 |
| Atlantic Equities | Overweight | Overweight | Maintain | Jun 11, 2019 |
| Berenberg | Buy | Buy | Maintain | May 15, 2019 |
| BTIG Research | Buy | Neutral | Upgrade | Jul 24, 2018 |
| William Blair | Outperform | Outperform | Maintain | Jul 21, 2017 |
| Stephens & Co. | Overweight | Equal Weight | Upgrade | Nov 8, 2016 |
| Albert Fried | Overweight | Overweight | Maintain | Oct 30, 2015 |
| Maxim Group | Buy | Buy | Maintain | May 28, 2015 |
| Stifel Nicolaus | Buy | Hold | Upgrade | May 1, 2015 |
| Stifel | Buy | Hold | Upgrade | May 1, 2015 |
| MKM Partners | Buy | Buy | Maintain | Apr 9, 2015 |
| Albert Fried & Co. | Market Perform | Overweight | Downgrade | Mar 9, 2015 |
| Sterne Agee | Neutral | Buy | Downgrade | May 28, 2014 |
| ISI Group | Buy | Buy | Maintain | Feb 7, 2014 |
| Evercore Partners | Equal Weight | Equal Weight | Maintain | Mar 5, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $169.4. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Deutsche Bank | Analyst unavailable | $205 | $173.11 | +21.0% | Jul 31, 2026 |
| Susquehanna | Joseph Stauff | $187 | $174.24 | +10.4% | Jul 31, 2026 |
| Oppenheimer | Analyst unavailable | $210 | $173.26 | +24.0% | Jul 31, 2026 |
| Bernstein | Analyst unavailable | $215 | $183.59 | +26.9% | Jul 31, 2026 |
| Guggenheim | Curry Baker | $218 | $183.59 | +28.7% | Jul 31, 2026 |
| Roth Capital | Analyst unavailable | $208 | $183.59 | +22.8% | Jul 31, 2026 |
| Oppenheimer | Jed Kelly | $100 | $181.07 | -41.0% | Jul 28, 2026 |
| Oppenheimer | Jed Kelly | $200 | $179.4 | +18.1% | Jul 28, 2026 |
| BTIG | Analyst unavailable | $215 | $177.92 | +26.9% | Jul 23, 2026 |
| Susquehanna | Analyst unavailable | $186 | $180.86 | +9.8% | Jul 21, 2026 |
| UBS | Batya Levi | $208 | $180.22 | +22.8% | Jul 20, 2026 |
| Roth Capital | Analyst unavailable | $205 | $181.56 | +21.0% | Jul 15, 2026 |
| Wells Fargo | Analyst unavailable | $222 | $182.14 | +31.1% | Jul 9, 2026 |
| Goldman Sachs | Stephen Laszczyk | $202 | $182.14 | +19.2% | Jul 8, 2026 |
| Morgan Stanley | Analyst unavailable | $200 | $168.1 | +18.1% | Jun 10, 2026 |
| Guggenheim | Analyst unavailable | $197 | $157.26 | +16.3% | May 6, 2026 |
| Guggenheim | Curry Baker | $180 | $165.33 | +6.3% | Mar 9, 2026 |
| Goldman Sachs | Analyst unavailable | $175 | $162.67 | +3.3% | Feb 20, 2026 |
| Oppenheimer | Analyst unavailable | $190 | $165.3 | +12.2% | Feb 20, 2026 |
| Evercore ISI | Analyst unavailable | $198 | $166.63 | +16.9% | Feb 20, 2026 |
| Roth Capital | Analyst unavailable | $190 | $166.94 | +12.2% | Feb 20, 2026 |
| UBS | Analyst unavailable | $181 | $157.46 | +6.9% | Feb 20, 2026 |
| Morgan Stanley | Analyst unavailable | $185 | $157.46 | +9.2% | Feb 20, 2026 |
| Roth Capital | Analyst unavailable | $174 | $151.11 | +2.7% | Feb 12, 2026 |
| Jefferies | David Katz | $155 | $148.85 | -8.5% | Jan 13, 2026 |
| Evercore ISI | Vijay Jayant | $188 | $141.75 | +11.0% | Dec 23, 2025 |
| UBS | Analyst unavailable | $164 | $125.61 | -3.2% | Nov 25, 2025 |
| Evercore ISI | Kutgun Maral | $168 | $139.14 | -0.8% | Nov 5, 2025 |
| Roth Capital | Eric Handler | $176 | $138.68 | +3.9% | Nov 5, 2025 |
| Susquehanna | Analyst unavailable | $175 | $148.01 | +3.3% | Nov 3, 2025 |
| Deutsche Bank | Benjamin Soff | $173 | $156.15 | +2.1% | Oct 23, 2025 |
| Seaport Global | David Joyce | $190 | $163.82 | +12.2% | Sep 23, 2025 |
| MoffettNathanson | Robert Fishman | $195 | $161.1 | +15.1% | Aug 18, 2025 |
| Morgan Stanley | Cameron Mansson | $180 | $152.89 | +6.3% | Jul 24, 2025 |
| Susquehanna | Joseph Stauff | $165 | $143.71 | -2.6% | Jun 10, 2025 |
| Rosenblatt Securities | Barton Crockett | $146 | $92.18 | -13.8% | Nov 13, 2024 |
| Roth Capital | Eric Handler | $132 | $115.35 | -22.1% | Oct 16, 2024 |
| Seaport Global | David Joyce | $133 | $115.84 | -21.5% | Oct 15, 2024 |
| Oppenheimer | Jed Kelly | $120 | $94.2 | -29.2% | Sep 6, 2024 |
| Bank of America Securities | Peter Henderson | $125 | $95.34 | -26.2% | Sep 4, 2024 |
| Rosenblatt Securities | Barton Crockett | $123 | $94.77 | -27.4% | Jul 2, 2024 |
| Roth Capital | Eric Handler | $120 | $95.22 | -29.2% | May 24, 2024 |
| Seaport Global | David Joyce | $115 | $93.48 | -32.1% | May 24, 2024 |
| Macquarie | Paul Golding | $125 | $101.4 | -26.2% | May 23, 2024 |
| Guggenheim | Curry Baker | $128 | $92.21 | -24.4% | Apr 17, 2024 |
| Rosenblatt Securities | Barton Crockett | $119 | $101.42 | -29.7% | Apr 11, 2024 |
| Oppenheimer | Jed Kelly | $115 | $100.75 | -32.1% | Jul 28, 2023 |
| Oppenheimer | Jed Kelly | $110 | $98.28 | -35.1% | Jul 21, 2023 |
| Morgan Stanley | Analyst unavailable | $80 | $70.69 | -52.8% | Nov 30, 2022 |
| Citigroup | Analyst unavailable | $82 | $69.82 | -51.6% | Nov 28, 2022 |
| Macquarie | Paul Golding | $105 | $83.66 | -38.0% | Jul 13, 2022 |
| Morgan Stanley | Benjamin Swinburne | $110 | $97.2 | -35.1% | Jun 2, 2022 |
| Wolfe Research | Analyst unavailable | $119 | $95.54 | -29.7% | Jun 2, 2022 |
| Rosenblatt Securities | Analyst unavailable | $139 | $95.35 | -17.9% | May 6, 2022 |
| Rosenblatt Securities | Barton Crockett | $138 | $108.28 | -18.5% | Apr 28, 2022 |
| Rosenblatt Securities | Barton Crockett | $320 | $109.72 | +88.9% | Apr 26, 2022 |
| Guggenheim | Curry Baker | $140 | $116.3 | -17.4% | Mar 25, 2022 |
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Start freeCompany context
Snapshot as of publicationLive Nation Entertainment, Inc., incorporated in 2005 and formerly known as Live Nation, Inc. until its name change in January 2010, is a global leader in live entertainment, headquartered in Beverly Hills, California. The company's diverse operations are organized into three primary business segments: Concerts, Ticketing, and Sponsorship & Advertising. The Concerts segment is responsible for organizing and promoting live musical performances, utilizing its extensive portfolio of owned or managed venues, as well as various rented third-party locations. This division also oversees the management and operation of music venues, produces major music festivals, develops related content, and offers management and other support services to artists. Through its Ticketing segment, Live Nation manages a comprehensive suite of ticketing operations.…
Historical context
All LYV earningsLatest beats and misses
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-25T14:31:20.590153+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-25T14:31:20.587413+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-25. For educational purposes only; not investment advice.